| (independantexpress.net)
Another year is coming to an end. 2019 will have been a year for Togolese with 12 months of hope, promises and economic reforms with mixed effects. Economic advances are being brandished here and there. But is it a reality? The government's economic governance results are being criticized from all over the place. For many citizens, the profound economic transformations advanced by the state seem illusory. From the beginning of 2019, many measures have been taken regarding Togo's economic future. One of the most important measures is the adoption of the Ndp, which aims to make Togo an economic platform par excellence in the sub-region. From job creation initiatives to infrastructure projects, the economic recovery appears to be well underway. According to financial institutions, the government's structural fiscal reforms have restructured the economy and improved the business climate. International missions argue that the Togolese economy is unquestionably in a phase of sustained growth According to the African Development Bank (AfDB), thanks to the reforms undertaken, the GDP growth rate is expected to be 5.0% for this year 2019, and according to the Ministry of Economy and Finance, the rate would be 5.1%. During this year, the government did not lack initiative. Numerous agreements signed with African and Western partners, privatizations of public companies, agricultural financing projects, construction projects of extractive industries and processing. There are also significant innovations in the field of technology, notably the digitalization of business creation and tax payments. To boost the economy and create jobs, conditions have been established for the establishment of certain foreign companies in the Togolese capital, like the corporate phone group. As far as the Autonomous Port of Lomé is concerned, initiatives have been taken to modernize it. The port, considered the lung of the national economy, is at the service of the West African sub-region by its positioning; it is now the first container port in West Africa and especially for the third year in a row, the best transshipment port In addition, Lomé International Airport has been modernized and has seen an upward trend in passenger traffic this year. The capital Lomé has also hosted numerous conferences and forums this year bringing together different personalities. It should also be noted that the formalities of starting a business have been eased. Much of the administrative procedures have been dematerialized. According to the Business Formality Centre, the business climate has improved markedly, restoring investor confidence. For example, in 2019, Togo was praised by major international institutions. The World Bank's Doing Business ranking shows that Togo has gained 40 places and is now Africa's best reformer. This study allows investors to have insights into the business climate to rely on. Of course, thousands of companies have just emerged. But it is still necessary for the activities to evolve so that these newly created companies do not close their doors overnight. It should therefore be remembered that the majority of these companies operate on a family basis, and are therefore rather ephemeral. It should also be noted that the economic situation for most citizens is not satisfactory. The purchasing power of the population remains low and job creation initiatives are insufficient. If there is growth, it is clear that the unequal distribution of resources among the population is more than ever a reality. Corruption, gabegie and social injustice are holding back significant progress on a daily basis. It is therefore not surprising that the majority of the population feels on the margins of this ever-increasing support. 2019 was not the exception. We look forward to taking steps to improve the allocation of resources so that social cohesion and the strengthening of inclusion mechanisms are finally a reality. www.independantexpress.net Eric G. |